Bluewater Audio: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Bluewater Audio
Largest movements
- Tangible fixed assets -€24,749
down €24,749 (-31.8%), from €77,904 to €53,155
- Cash +€12,113
up €12,113 (+9.2%), from €131,312 to €143,425
mainly Depreciation (+€24,749) and Net result for the year (+€14,115)
- Reserves +€14,115
up €14,115 (+11.4%), from €123,968 to €138,083
- Debts after one year -€12,273
down €12,273 (-35.3%), from €34,778 to €22,505
of which Financial debts: -€12,273
- Tax, wage and social debts -€6,990
down €6,990 (-90.2%), from €7,749 to €760
- Trade debts -€6,784
down €6,784 (-96.5%), from €7,032 to €249
- Gross operating margin -€14,810
down €14,810 (-24.5%), from €60,420 to €45,610
- Taxes -€7,048
down €7,048 (-65.9%), from €10,689 to €3,641
- Depreciation +€1,772
up €1,772 (+7.7%), from €22,977 to €24,749
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €211,244 | €198,570 | -€12,675 | -6.0% |
| Fixed assets | 21/28 | €77,904 | €53,155 | -€24,749 | -31.8% |
| Tangible fixed assets | 22/27 | €77,904 | €53,155 | -€24,749 | -31.8% |
| Land and buildings | 22 | €29,556 | €23,222 | -€6,333 | -21.4% |
| Plant, machinery and equipment | 23 | €4,596 | €2,489 | -€2,108 | -45.9% |
| Furniture and vehicles | 24 | €19,191 | €10,958 | -€8,233 | -42.9% |
| Other tangible fixed assets | 26 | €24,561 | €16,486 | -€8,075 | -32.9% |
| Current assets | 29/58 | €133,340 | €145,414 | +€12,074 | +9.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €179 | €1,990 | +€1,811 | +1,015% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €179 | €1,990 | +€1,811 | +1,015% |
| Cash at bank and in hand | 54/58 | €131,312 | €143,425 | +€12,113 | +9.2% |
| Deferred charges and accrued income | 490/1 | €1,850 | €0 | -€1,850 | -100% |
| Total equity and liabilities | 10/49 | €211,244 | €198,570 | -€12,675 | -6.0% |
| Equity | 10/15 | €142,568 | €156,683 | +€14,115 | +9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €123,968 | €138,083 | +€14,115 | +11.4% |
| Distributable reserves | 133 | €123,968 | €138,083 | +€14,115 | +11.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €68,676 | €41,887 | -€26,790 | -39.0% |
| Amounts payable after more than one year | 17 | €34,778 | €22,505 | -€12,273 | -35.3% |
| Financial debts | 170/4 | €34,778 | €22,505 | -€12,273 | -35.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €33,898 | €19,382 | -€14,517 | -42.8% |
| Current portion of amounts payable after more than one year | 42 | €11,989 | €12,273 | +€284 | +2.4% |
| Trade debts | 44 | €7,032 | €249 | -€6,784 | -96.5% |
| Suppliers | 440/4 | €7,032 | €249 | -€6,784 | -96.5% |
| Taxes, remuneration and social security | 45 | €7,749 | €760 | -€6,990 | -90.2% |
| Taxes | 450/3 | €7,749 | €760 | -€6,990 | -90.2% |
| Other amounts payable | 47/48 | €7,128 | €6,101 | -€1,027 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,977 | €24,749 | +€1,772 | +7.7% |
| Other operating charges | 640/8 | €2,743 | €2,522 | -€221 | -8.1% |
| Gross operating margin | 9900 | €60,420 | €45,610 | -€14,810 | -24.5% |
| Operating profit (loss) | 9901 | €34,700 | €18,340 | -€16,361 | -47.1% |
| Financial income | 75/76B | €673 | €1,018 | +€345 | +51.3% |
| Recurring financial income | 75 | €673 | €1,018 | +€345 | +51.3% |
| Financial charges | 65/66B | €1,747 | €1,602 | -€144 | -8.3% |
| Recurring financial charges | 65 | €1,747 | €1,602 | -€144 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €33,627 | €17,756 | -€15,871 | -47.2% |
| Income taxes | 67/77 | €10,689 | €3,641 | -€7,048 | -65.9% |
| Profit (loss) for the period | 9904 | €22,938 | €14,115 | -€8,823 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,938 | €14,115 | -€8,823 | -38.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.